The median sales price of a single-family home in Greater Hartford increased from $330,000 to $363,375 over July of last year – a 10.1% jump, according to the Greater Hartford Association of Realtors.
Meanwhile, closed sales decreased 24.1%, from 827 to 628, and pending sales decreased 23.4%, from 786 to 685, the group said. Inventory dropped 23.5%, from 1,413 to 1,081.
“With such low inventory, it’s difficult for those looking to purchase in our housing market,” said Holly Callanan, CEO of the group. “Until inventory rebounds, prices will most likely remain high.”
Inventory of single-family homes in Greater Hartford dropped 27.3%, from 1,462 to 1,063, over June of last year, indicating that efforts to slow the economy are beginning to tamp down demand, according to the Greater Hartford Association of Realtors.
The median sales price increased 4.9% (from $335,000 to $351,250), according to the data.
Closed sales decreased 11.2% (from 820 to 728) and pending sales decreased 14.4% (from 803 to 687), the group said.
The median sale price of single-family homes in Greater Hartford rose 12.7% last month compared to the year-ago period, according to the Greater Hartford Association of Realtors.
The median price of $306,000 last May rose to $345,000, the association said. Meanwhile, new listings dropped 12.5% (from 934 to 817) and inventory decreased 33.1% (from 1,422 to 951).
Closed sales decreased 12.9% (from 611 to 532) and pending sales decreased 6.1% (from 737 to 692).
Closed sales of single-family homes in the Greater Hartford area fell 13% between Dec. 2020 and Dec. 2021, a further sign of decreasing inventory as the cost of housing continues its pandemic-fueled climb.
The year-to-year comparison, released this week by the Greater Hartford Association of Realtors, found that the number of single-family homes changing hands in central Connecticut fell from 746 to 649. Pending sales also declined by 10.7%, from 571 homes to 510 homes.
The median sales price of single-family homes in Greater Hartford increased by 9.1% in November, officials from the Greater Hartford Association of Realtors said, from $275,000 to $300,000, as inventory continues to be an issue.
According to information from the Greater Hartford Association of Realtors, single family home inventory decreased 32.3%, from 1,485 to 1,005, when compared to last November. Closed sales decreased 1.7%, from 645 to 634, and pending sales decreased 5.3%, from 661 to 626.